Strategic Management

1-- Tactics and Strategies Paper
Using knowledge gained from Balanced Scorecard format, prepare a paper in which you add your strategies and tactics to implement and realize your strategic objectives, measures, and targets. Be sure that you include marketing and information technology strategies and tactics. Also develop at least three methods to monitor and control your proposed strategic plan.

Solution Preview

The response address the queries posted in 896 words with references.

//Prior to writing for tactics & strategies used for implementing & realizing the strategic objectives, measures & targets, we should be aware about these terms and their importance. In the paragraph given below, we will discuss them. See the text below: //

Strategic objectives are those efforts which are used for the fulfillment and success of organizational strategies. Strategic objectives, measures and targets are influenced by the company's mission, vision and value statements. These objectives should be specific, measurable, achievable, realistic & timely and after setting up the strategic objectives, measures & targets, a company can make the effective utilization of available resources for the accomplishment of organizational goals & objectives (Wheelen & Hunger, 2006).

//As we have defined strategic objectives in the paragraph above, we will move forward with the implementation of tactics & strategies for implementing & realizing the strategic objectives for an organization. //

In the present times of severe competition, it has become very important for companies to fulfill their strategic objectives for maintaining a considerable position in the marketplace. Therefore, organizations use several strategies & tactics for meeting with the strategic objectives mentioned in their balanced scorecard. Some of these strategies are as following:

Financial Strategies & Tactics: In order to increase profit, companies seek to maintain a proper balance between cost and ...